NEW YORK - US business analytics firm Dun & Bradstreet is preparing to launch an initial public offering that could raise up to US$1 billion , the latest company to eye a listing after the coronavirus-induced economic downturn roiled the market for new stocks.
The sources requested anonymity ahead of an official announcement. Dun & Bradstreet did not respond to requests for comment. Representatives for Goldman Sachs and Bank of America declined to comment. The impending IPO announcement underscores the extent to which companies are seizing on a sharp rebound in US investor appetite for new stocks, with some eight companies going public last week and raising more money than originally planned.
While the precise valuation the investor group is seeking for Dun & Bradstreet could not be learned, the IPO will aim to value the company above the buyout price, the sources said.